XM does not provide services to residents of the United States of America.

FTSE 100 slips for the third day as financials weigh



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>UPDATE 2-FTSE 100 slips for the third day as financials weigh</title></head><body>

For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window

Aviva falls on brokerage downgrade

British home prices to dip again in 2024

BoE's Bailey vows to do 'what it takes' to cut inflation

FTSE 100 down 0.4%, FTSE 250 adds 0.4%

Updated at 16:53 GMT

By Shashwat Chauhan and Khushi Singh

Nov 29 (Reuters) -Britain's FTSE 100 slipped for the third straight day on Wednesday following hawkish comments from Bank of England Governor Andrew Bailey, while insurance heavyweights Aviva and Prudential fell after bearish brokerage comments.

The blue-chip FTSE 100 .FTSE index dipped 0.4% and the domestically-focussed mid-cap index .FTMC added 0.4%.

Bailey said that the central bank "will do what it takes" to get inflation down to its 2% target, adding that he had not yet seen enough progress towards that goal to be confident.

The life insurance sector .FTNMX303010 fell 1.7%, to the bottom of FTSE 100 with Prudential PRU.L slipping 3.5% after Deutsche Bank reduced its price target on the stock.

Insurer Aviva AV.L also dropped 2.1% after the bank downgraded the stock to "hold" from "buy".

Banks .FTNMX301010 slipped 1.0% following a 3.3% slip in Standard Chartered STAN.L.

Top gainer precious metal miners .FTNMX551030 added 2.6% as gold prices continued surging as expectations that the U.S. Federal Reserve may cut interest rates by the first half of next year boosted the outlook. GOL/

"It's now possible that gold is on course to take out its record closing high of $2,070 from August 2020," said David Morrison, Senior Market Analyst at Trade Nation.

Retailer .FTNMX404010 shares climbed 1.3% on a 5.7% jump in sportswear firm JD Sports JD.L after U.S.-listed footwear retailer Foot Locker FL.N forecast annual profit above market estimates.

Spirent Communications SPT.L rose 5.9%, to the top of the mid-cap index after the IT and network service provider signed agreement with financial services organisation to automate its lab & testing capabilities.

Pets at Home Group PETSP.L jumped 5.1% after the retailer forecast like-for-like retail sales growth ahead of Christmas.

Rate-sensitive stocks like real estate .FTUB3510, real estate investment trusts .FTNMX351020, and homebuilders .FTNMX402020 rose more than 1.2% each.

Meanwhile, a Reuters poll showed British home prices will fall again in 2024 after dropping 4% this year as the Bank of England keeps interest rates higher for longer.



Reporting by Shashwat Chauhan and Khushi Singh in Bengaluru; Editing by Dhanya Ann Thoppil and Eileen Soreng

 For related prices, Reuters users may click on - * UK stock report .L FTSE index: 0#.FTS6 techMARK 100 index: .FTT1X FTSE futures: 0#FFI: Gilt futures: 0#FLG: Smallcap index: .FTSC FTSE 250 index: .FTMC FTSE 350 index: .FTLC Market digest: .AD.L Top 10 by vol: .AV.L Top price gainers: .NG.L Top % gainers: .PG.L Top price losers: .NL.L Top % losers: .PL.L * For related news, click on - * UK hot stocks: HOT and GB Wall Street: .N Gilts report: GB/ Euro bond report GVD/EUR Pan European stock report: .EU Tokyo stocks: .T HK stocks: .HK Sterling report: GBP/ Dollar report: USD/ * For company prices, click on - * Company directory: UKEQ By sector: FTAX * For pan-European market data, click on - * European Equities speed guide................ EUR/EQUITY FTSE Eurotop 300 index........................... .FTEU3 DJ STOXX index................................... .STOXX Top 10 STOXX sectors........................ .PGL.STOXXS Top 10 EUROSTOXX sectors................... .PGL.STOXXES Top 10 Eurotop 300 sectors.................. .PGL.FTEU3S Top 25 European pct gainers.................... .PG.PEUR Top 25 European pct losers..................... .PL.PEUR
</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.